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Accumulate Aurobindo Pharma; target of Rs 635: Prabhudas Lilladher

Prabhudas Lilladher recommended accumulate rating on Aurobindo Pharma with a target price of Rs 635 in its research report dated August 15, 2022.

August 17, 2022 / 17:36 IST
     
     
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    Prabhudas Lilladher's research report on Aurobindo Pharma

    Aurobindo Pharma’s (ARBP) operating performance continued to remain weak in Q1FY23, given cost headwinds. We believe cost pressures to remain in near term and margin trajectory should improve from H2FY23. However, pick up in US sales hinge on timely niche approvals along with stabilization of pricing pressure in base business. ARBP has multiple growth drivers in place with investments in vaccines, injectables, biosimilars and PLI, which are expected to be reflected from FY24. At CMP, stock is trading at 11.4x FY24E P/E. We broadly maintained our estimates.

    Outlook

    We recommend ‘Accumulate’ with TP of Rs635 .

    For all recommendations report, click here

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    Aurobindo Pharma - 160822 - prabhu

    Broker Research
    first published: Aug 17, 2022 05:36 pm

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